Intercontinental Hotels Q3 Comparable RevPAR Up; Says Confident Of Rest Of Year

(RTTNews) - InterContinental Hotels Group plc (IHG.L, IHG) reported Friday that its third-quarter global comparable RevPAR went up 1%.

RevPAR in the Americas was flat with performance in the US impacted by strong prior year demand from the 2017 hurricanes. RevPAR increased 2.5 percent in EMEAA, AND 4.8 percent in China.

Net system size increased 5.1% year on year to 826 thousand rooms in 5,518 hotels, while it was up 4.6% excluding Regent Hotels & Resorts and the UK portfolio deal.

Further, the company said that $500 million will be returned to shareholders by means of special dividend with share consolidation.

Keith Barr, Chief Executive of InterContinental Hotels, said, "We are confident in the outlook for the remainder of the year and in our ability to deliver industry-leading net rooms growth over the medium term."